Government sanctions SBI's Capital Augmentation Plan through Rights Issue

State Bank of India (SBI) has announced that in exercise of the powers conferred by Section 5(3) of State Bank of India Act, 1955, the Central Government has accorded sanction to increase issued capital of the Bank from the existing Rs 526.30 crore to Rs 650.00 crore through Rights Issue.

The stock was trading at Rs.2396, down by Rs.24.80 or 1.02%. The stock hit an intraday high of Rs.2439.90 and low of Rs.2392.05.

The total traded quantity was 124039 compared to 2 week average of 191563.

Source : Equity Bulls

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